Regulatory Alerts2016-01-05
Added · Updated
New Rules Adopted for Securities-Based Crowdfunding
Amendments to the Enforcement Decree of the Financial Investment Services and Capital Markets Act permit start-up companies, SMEs operating for less than seven years, and venture companies undertaking technology or cultural projects to offer and sell securities through crowdfunding. Issuers are capped at raising KRW 700 million annually, while crowdfunding brokers must maintain a minimum capital of KRW500 million and meet conflict of interest and large shareholder requirements. Individual investment limits will be determined based on investors' expertise and risk-absorbing capacity. These amendments take effect on January 25, 2016.
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